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Sell a Bad Rental Property in Los Angeles

Selling LA Rental Properties

Owning real estate can be a valuable form of additional income for your family. That’s why most people like the idea of owning rental properties. It always seems like a good idea, but the reality of owning rental property is sometimes worse than the dream.

With rental homes, you have to consider all the things that can go wrong. Nothing is perfect 100% of the time. It’s likely you’ll eventually face some pitfalls with your house. And your real estate investment might end up being the exact opposite of lucrative.

You might decide that your rental isn’t worth the trouble. Especially if the home is in Southern California, where tenant laws often leave landlords at a disadvantage.

It’s important to familiarize yourself with California’s landlord and tenant laws (See Below).

 

Ideally, you’ll do this before the first tenant takes up residence on your property. NOLO is an online resource where you can learn more about your rights as a landlord. You can also learn about tenant’s rights, and how those rights affect you.

 

Overview of Landlord-Tenant Laws in California – NOLO

 

Understanding key California landlord-tenant laws and regulations will help both parties avoid many common legal issues and the need to retain legal council for tenancy solutions. Here is an overview of landlord-tenant laws that are commonly in question by both parties.

California Landlord-Tenant Statues

Citations for California landlord-tenant statues are great sources of information for both tenants and landlords. Congress’s legal research site’s state section offers the statues word-for-word, which can be looked up by statue number or by a keyword.

Are All Rentals Covered By California Landlord-Tenant Laws?

Separate rules apply to certain types of rental units. Floating homes, for example, such as a marina or house boat, and moveable mobile homes, have their own residency laws concerning the landlord-tenant provisions and tenancy.

California Landlord Disclosures

Landlords in California are required by state law to disclose certain information to their tenants at the start of any tenancy. This is usually included in the written rental or lease agreement. The disclosures include information such as the presence of toxic mold exceeding exposure limits and/or posing a health threat to tenants. It also includes servicing details related to gas and electricity going into a rental, including if and how the costs will be allocated when it serves other areas. Notice of registered sex offender database and former state or federal ordnance locations are required discloses, too.

California Security Deposit Limit and Return

While most California lease and rental agreements require a security deposit to cover damages that exceed normal wear and tear of a property, damages, and back-owed rent, state law limits the amount landlords may charge a renter. It also prohibits “non-returnable” security deposits. The maximum security deposit amount is two times rent for unfurnished dwellings and three times rent for furnished dwellings. Security deposits must be returned within 21 days of a renter moving out, and any intended deductions must be made available in writing before being applied.

California Small Claims Lawsuits

Small claims court handles deposits that aren’t returned in accordance with state law and landlords defending a security deposit withholding for damages, cleaning, or unpaid rent. Such lawsuits are capped at $10,000. To avoid dispute, landlords should have a move-out inspection alongside the tenant just prior to and/or after the tenant’s move-out date. At this time, the condition of the unit and contents can be systematically checked off and an itemized list of any intended security deposit deductions can be offered.

California Rent Amount/Payment Rules

Rent-related state laws and rules include late payments, rent increase notifications and limitations, and bad check fees. Landlords must offer tenants suffice notice to raise rent money, and they may file for eviction if a tenant fails to pay rent within at least three days of notice. Late fees must be reasonable and specified in the rental agreement. Do note that several California local governments have rent control ordinances separate from state law.

Rent Withholding In California

Tenants in California are entitled to their rental property being up to housing codes, in good general repair, structurally sound, healthy, and safe. When landlords fail to attend to certain fundamental repairs and maintenance, such as a broken AC unit or leaking roof, tenants have the right to move out without prior notice, call health inspectors and housing authorities, repair themselves and deduct from rent, or withhold rent if the issue causes habitability limitations.

Termination And Eviction Rules For California Landlords

California’s landlord-tenant laws specify when and how a landlord may terminate occupancy. Notice must be given of the issue in the form of an unconditional quit termination or termination for lease violation notice. The landlord would issue, for example, a stop notice or cure notice for impermissible subletting. If desired, this notice may include a three-day prior notice to move out. Only then can the landlord file for eviction

Access To Rental Property By Landlord And Abandoned Property

In California, a landlords’ right to access rental property is restricted. The landlord must provide 24 hours notice to the tenant. For final move-out inspections, 48 hours notice is required. Abandoned property is covered by detailed laws. Landlords must first determine if the property is indeed abandoned, which hinges on if the tenant’s tenancy has been terminated. The abandoned property must be deemed of value or trash, and, if of value, the tenant must be given notification of finding and the landlord’s intention to discard if not collected. Such abandoned property must be stored for at least 15 to 18 days (depending upon method of notification,) but landlords may charge a reasonable storage fee if the tenant doesn’t pick it up within two days.

Landlord Retaliation

California law protects tenants from landlord retaliation for complaints and exercising their legal rights, such as their fair housing rights. It also includes special protections for tenants if they’re victims of domestic violence.

Local Landlord-Tenant Ordinances

As mentioned above, certain California municipalities have landlord-tenant ordinances on a local-by-local level. Such ordinances commonly include rent control, safety and health standards, anti-discrimination rules, noise and disturbance rules, and so forth. So, it’s imperative that landlords and renters know both state and local laws that apply to their specific area. These can be found a number of ways, including the municipality’s website, Municode website, public library, mayor’s office, city attorney’s office, and city/county manager’s office.

Federal Landlord-Tenant Laws And Regulations

In addition to state and local laws, tenants and landlords should be familiar with applicable federal laws regarding property rental. Federal agencies, such as HUD and the EPA, are responsible for applying and enforcing a number of laws regarding the landlord-tenant agreement. These mainly concern landlord responsibilities regarding safety and health, such as landlord obligation to disclose environmental health hazards like lead and mold. These also cover certain discrimination issues. For a full list of U.S. Codes applicable to landlords and tenants, visit the federal section of the Library of Congress’s legal research site and search for US Code and Code of Federal Regulations. They’re organized by title.

 

Selling Bad Rental Property in LA

If you’re interested in selling a Los Angeles bad rental property, then you have a few options.

 

Keep in mind you’ll have to make repairs and get the property in decent shape if you plan to sell it to an individual. But if you sell it to a home buying company like Selelrs Advantage, it’s likely we’ll buy the property “as-is”. Seller’s Advantage will buy the house fast for cash and you’re free of any responsibility.

Most times when you sell your house to a home buying company they will likely:
– Pay closing costs and fees associated with the sell
– Buy the house “as-is” without demanding repairs
– Close on the property on a date of your choosing usually very fast

You’ll undoubtedly have questions about selling your property to us instead of a traditional real estate listing . Speak with the experts at Seller’s Advantage to learn more about how the process works and what to expect. You might decide that selling your property fast to us is a wise decision.

 

 

 

 

We Buy Houses in Southern California for Cash

Are You Looking To Sell Your House Fast?

We can help!

You need a reliable, fast and convenient option to sell your home quickly, and we have everything you need to make that happen. Selling your home shouldn’t be complicated. The thing is, many people don’t want to wait around for their house to sell; they want to sell it quickly. There’s nothing wrong with real estate agents or even online property portals – the problems are that the process is costly, lengthy, and can be very stressful.

We know that it’s challenging to sell your home quickly, which is why we have our own proven method to speed up and simplify the process for homeowners. We buy houses in California for cash! No matter what your reason, we can get you the fast house sale you need to move forward, every day we buy houses in California cities – for cash!

Ways To Sell Your Home

Real Estate Agents

Marketing your property via a real estate agent is one of the most popular ways to sell a house. Usually, an agency will charge you a percentage of the final purchase price, and you’ll also have to pay out solicitor’s fees, too. But that’s not all, you will also have to pay for repairs, staging and closing costs. There’s no guarantee of a sale, and you will still be paying your mortgage payments while you wait, as well as keeping your house in pristine condition as potential buyersr tour your house.

Online Property Portals

You can advertise your home online and reach that large audience, but while you’ll save on the agency fees, you will still have to pay for the fees mentioned above. You also have to take the time to show people around while continuing to make payments on your mortgage as well as property taxes.

With Us!

The best and quickest option is with Sellers Advantage. You need to sell your house fast, and we want to make it simple for you. We buy houses in Southern California cities in any condition and any situation. Whether you have a condo, townhouse, duplex, multi or single-family home, we can buy it from you… and you will have a less stressful time selling your house!

No Repairs, No Commissions, No Closing Costs

When you sell your house for cash with us, you won’t have to worry about fixing it up for buyers. You won’t have to worry about paying commissions to an agent, strangers coming into your house at a moment’s notice, and you won’t have to worry about any closing costs. Our company will pay you cash for your house.  We’ll also make sure your home sale is closed quickly, with fast turnarounds from as little as seven days. This gives you the freedom to move on with your life to bigger and better things!

Learn About Our Process

We have a specific process we follow, and it works a little something like this:

A Fair Cash Offer

Come to us with your house, and we’ll give you a free, no-obligation cash offer.

Your Escrow Date

You can choose your escrow closing date. If you need to do it in seven day or 90 days, that’s fine by us. Let us know the date, and we’ll make it happen.

Price Agreement

Once we’ve reached an agreement on the price, we’ll provide you with a Sellers Contract for you to sign and return to us.

Sign The Paperwork

Next, you’ll get some escrow documents to sign and return. You’ll return the documents, and the next step is the one you’ve been waiting for.

Celebrate!

Once escrow closes, you’ll have the funds that you need to go out and celebrate your home sale. You should be able to sell your home on your own terms, and at Seller’s Advantage we can and WANT to make this happen for you.

Selling Your House Without A Realtor

It can be hard to sell your home if it’s not in the best condition.  Any quality realtor will tell you the importance of sprucing up the place before you sell it. If your house is a little run down, you’ll find it hard to list with a reputable agent. The thing is… there’s us! We can happily take a home in any condition, allowing you to let go of the stress and hassle of finding a buyer at all.

Pros of Selling Your Home with Us

We want you to feel comfortable and know you are in the right place with selling your house for cash, Here are the benefits of using us versus your local realtor:

  • When we buy your house with cash, you can choose your escrow date
  • You get peace of mind that your cash buyer is reliable and wants to buy your home
  • There are no fees, no closing costs, and you won’t have to pay any realtor commissions
  • There are no repairs to do
  • You won’t have cleaning costs
  • You won’t need to move unwanted items; we can do that for you
  • You don’t have to worry about your tenants; we’ll take your unwanted rental

Cons of Selling Your Home with a Realtor

There are many negatives to selling with a realtor, which is why we’re pleased we can provide you with a fantastic alternative. Let’s look at the cons of selling with a realtor:

 

  • You could be waiting months before you close
  • There’s always the risk your buyer will fall out of escrow
  • You’ll have to show people around your home – which is not always convenient
  • You’ll have to pay commissions and closing costs
  • The repairs and cleaning are all up to you
  • You have to evict your tenants

We’re Professional Home Buyers Who Care

The one thing you have to understand about us is that we know how hard it is to sell a house. We have many years of experience and a proven track record; we already know what we’re doing. We will do what we can to ensure that the whole process is a painless and smooth transaction. We are well-versed in buying houses in Southern California and doing it quickly. We’ve got the experience in appraisals, loans, renovating, and buying real estate. We know we can help you to sell your home fast, at a price that is fair and honest.

 

We love doing this for clients, especially when listing your house isn’t an option. When you sell to us, you get our seller guarantee. This is where we will buy your home and work with you to close on your chosen date. Our schedule is there to work with you, making for a smooth and concentrated process.

Buying Your House Fast for Cash

There are plenty of advantages to selling your house fast for cash, and we’re a company with a reputation that we are proud of having. We want to assist you in getting on with your life as soon as possible; all you need to do is the following:

  • Tell Us About Your House
    • We’ll take your information and details about the house to assess the condition of it. We’ll then value it and compare it against other homes in the neighborhood.
  • Get Your Cash Offer
    • You’ll then receive a fair cash offer – this creates a situation that helps everyone win.
  • Make It Simple
    • We want to make the entire process as simple as possible, removing the pressure of the sale and taking away all the worry of a fall out in the middle of the process.
  • Sell Confidently
    • When we agree on the price, your house is guaranteed to sell, and you won’t be out of pocket whatsoever. There aren’t any costs you have to worry about, so unlike other methods of selling your house, you can remain confident it’s a done deal.

 

If you need to sell your house fast, fill out this form or call us at 1-800-208-3243 and let us help!

 

Selling Your Home During a Divorce in Los Angeles

Divorce is an unfortunate way of life that touches more people than you would expect; the sobering truth is that half of the country’s marriages head down this path. Among the chaos and hassles of a changing life comes questions about personnel items and property. Housing will inevitably come up during these trying times; with many going through it lost about how to go forward on selling a house in Los Angeles.

Much like every other American in the same situation, Los Angeles residents going through a divorce often have questions or seek advice during this time. For a majority of proceedings, the house becomes the largest asset among a couple’s possessions and certainly not something both can share equally. Among the stress of an already difficult time, both spouses need to remain calm and think about the right choices for everyone involved. These real estate considerations have a new issue in the mix; a lack of rising home values after the last big drop.

Don’t Do It Alone

Selling a home under even the best conditions can be trying, so imagine the stress of doing it during a divorce. Bringing in someone that knows the real estate game can help both parties navigate the hassles with a clear, unbiased approach to answers. This doesn’t just mean a real estate agent either, cash buyers can also help out as long as they have experience and knowledge of the subject property.

Sometimes, it will be necessary to sell the home quickly and without a lot of additional haggling over the details. In this case, finding a home buying company that can offer fast cash might be the best option. They also ensure a smooth and swift closing without the hiccups that come from complicated contracts.

Figuring Out A Time For The Home Sale

There’s a lot of different variables when it comes to making an as is home sale, especially when considering whether a spouse wants to stay. If one person in the marriage wants to live in the home, the other can think about asking for a buyout of their stake in the property.

In some cases, the presence of children plays a role in what goes on. For situations where a child in involved, one spouse may choose to stay in the home until the child reaches a certain age. A contract or similar legal item is filed stating a sell date usually based on the child’s age or other factors. Setting this up in writing in crucial to making sure the spouse leaves on the agreed upon date and that the sale goes through as planned.

Once a time is set, make sure that all parties involved stay with it. With the busy Los Angeles market, this is especially crucial to having a successful transaction. Set up a meeting with the agent or cash buyer to hammer out all of these details. Once the closing and moving dates are set, don’t change them. Be strict about every date and make sure there are contracts or other legally binding agreements in place that settle any questions that might occur. It might also help to designate one spouse to handle the communications during the entire process.

Making A Quick Sale For A Great Price

home repairsOne of the biggest issues for a divorcing couple is getting a fair price, but also closing the sale as soon as possible. Companies that purchase houses often offer the best solution without the lengthy issues of traditional home buying, allowing the couple to easily sell their home.

Not all home buying companies are the same, it pays to work with one that has a great reputation of buying houses as well as providing a quick and smooth transaction. With a difficult divorce already taking time and energy away from both parties, it needs to be people at the helm who will ensure everything is fair.

The realities of a divorce can be stressful as well as difficult to deal with. Having a good divorce real estate strategy can help remove one the biggest obstacles, selling the home at a fair price without the lengthy frustrations that come with a traditional sale. Look for a company that can do all of that in the Los Angeles area, but make sure they have the credentials and reputation to pull off even the most difficult sales. It’s all about making the most of a situation that half of all marriages will face.

 

Selling A House As Is In California – A How To Guide

Many property sellers in California have been faced with deciding whether or not they will fix up a property before attempting to sell it. The answer to this question will be different for each seller and depend upon a variety of factors.

What Is An As-Is Home Sale

An as-is home sale refers to the physical aspects of a home in most cases. However, there are rare instances when the as-is portion of a property sale agreement will refer to the deed or title of the home being sold. When you sell a home ‘as-is,’ you are declaring there will be no negotiations pertaining to repairs or updates to the property by the owner. It is important to understand that selling a home as-is does not mean there is no responsibility on the part of the seller to disclose facts concerning the home that affect the value and ability of a potential buyer to live in the house.

Examples of facts about a home that must be disclosed are problems with the foundation, issues with the structure of the home, major plumbing problems, the presence of mold, and other environmental threats present in or around the home.

Selling a home as-is in California provides tangible benefits for both the seller and buyer of a property. It is the best alternative for both parties in many situations.

Do Homebuyers Want Fixer-Uppers

There are buyers in the market who feel there are deals to be found when buying homes in need of work. These homebuyers are looking to perform light cosmetic work on the home they purchase. They are not looking to perform major repairs on a home in most cases. There are companies that specialize in purchasing homes with major issues but this does not usually fit the profile of individual buyers.

Should The Owner Make Repairs To The Property

There are times when fixing a home before putting it up for sale will be the most profitable alternative. However, this option will sometimes require a great investment in time and money. You may also need a bit of experience to pull off this option so make sure you are able to meet the challenges before choosing to do so.

You may be able to check out the homes listed for sale in your area to give you a hint of what would need to be done to your home to receive the full retail value of the house. Look at the condition of the homes on the market and determine how long the owner has waited for a buyer. Also, compute the time and cost necessary to improve your home to the point it is comparable to competing homes in the market.

While it is not a complicated process to sell a home as-is in California, it can be a little tricky to determine if it is worth it to repair a home before selling. If you are selling a home that has an outdated kitchen or bathroom and only needs work in this single area, it can be worth the time and effort to update the space yourself. However, a home that needs upgrades across the board may present too large of an undertaking for many homeowners.

Steps To Receive Best Possible Offers For Homes Sold As-Is

There are a number of tips at the disposal of the seller of a home to determine the price they should command when selling a home in as-is condition.

Determine The After Repair Value Of The Home

The first step in the process of valuing your as-is property is to get an idea of what the home will be worth if you took the time to perform the needed repairs. You can use a website online that values properties to find this number quickly.

Estimate what updates and repairs will cost

Do not be intimidated regarding the process of estimating repairs. The number you come up with does not need to be exact. There are also guides both online and off that will help you estimate the cost of individual repairs.

Determine A Fair Price For The Home In As-Is Condition

This is perhaps the most difficult part of the process. It can be an inexact science to estimate the discount a buyer should expect for repairing a home themselves. If light repairs or updates are needed, you can list the home for sale online. If major repairs need to be done to the home, time and money may be saved by contacting a cash home buyer in California.

A point to remember is that a realtor will also turn to a cash home buyer if they are selling a home that needs extensive repairs. You can save the six percent commission that would be owed to the realtor by going straight to the cash home buyer yourself.

Determine If The Cost To Make Repairs Is Worth It

Now it is time to determine if the hassle it would be to repair or update the home yourself is worth it. You should remember to add costs like escrow fees, buyer concessions, inspections and appraisal costs, and any other expenses relating to the sale of the home.

In most areas, these added fees will account for about 8 to 12 percent of the home’s final sales price.

If you decide to provide repairs yourself, make sure the following issues are properly addressed:

  • Fix any holes in the walls or ceilings.
  • Make sure HVAC system and appliances are in working condition.
  • Replace worn or damaged carpets.
  • Fix leaking faucets.
  • Fix damaged windows.
  • Paint walls and doors where needed.
  • Make roof repairs.
  • Replace outdated ceiling fans and light fixtures.

Final Thoughts

It is not always simple to determine if an as-is property sale is in your best interest. However, if you take a moment to consider all pertinent issues, you will come up with the best decision to fit your particular situation.

 

How to Quickly Sell a House You Inherited

If you’ve just inherited a house, it can be a challenge to know what to do next. Not only do you have to carry out the will of the person that’s passed on, but you also have a potential liability on your hands: houses aren’t cheap to run or maintain.

Rather than sitting on a house for a long time, it’s usually best to sell it as fast as possible, grab the cash from the sale, and then use that to meet your expenses or put into a savings pot. But how do you sell a house quick?

Sell To A Home Buying Company

Home buying companies are businesses that are set up with the explicit mission to buy any house from someone wanting to sell. Those who inherit property often use house buying companies because they want to free up cash fast, rather than having to wait months (or sometimes years) for a regular home transaction to go through.

There are all kinds of things that slow the process of selling a home on the regular private market. The most significant barrier is the need to form a chain of buyers or sellers. If one person in the chain changes on their decision to buy, then it can hold up the entire process, forcing everyone to wait for a new buyer.

Cash home buying companies don’t rely on chains at all. Instead, you get what the home buyer thinks your inherited property is worth up front, saving you a lot of time and money.

Sell A Home, No Matter What The Condition

Some people are lucky and inherit properties in perfect condition. All too often, though, inherited properties have issues which need resolving before putting them up for sale on the private market.

For many, this means doing renovation work. But carrying out renovations is a drain on your finances: you’ll have to foot the bill before you receive a single penny for the sale of the property.

Home buying companies, however, aren’t fussy. These firms will buy a house no matter the condition, and give you cash up front according to what they think it’s worth. Even if the property needs extensive renovations, you still win: the home buying company just subtracts the cost of repairs from the price that they offer, meaning that you’re usually no worse off. Plus, you don’t have to deal with any of the hassles of arranging renovation work yourself, saving you time too.

 

Why Choose A Cash Buyer To Sell Your Inherited Property?

Home buying companies are top-rated right now. But why are so many people with inherited properties using them? Let’s take a look.

Allows You To Move On Quickly

Inheritance is a double-edged sword. On the one hand, you get a windfall payout, but on the other, somebody you love has died. Many people who inherit property usually want to make a sale, and get on with the process of grieving. If you’re bereaved, you don’t want to have to deal with legal issues, frustrating buyers, and estate agent fees: it’s just not worth it. When you’re in that emotional state, you want a quick, clinical sale, cash in your bank account, and the capacity to leave the past behind and focus on your future.

Get Cash Fast

Waiting to get money for a property you’ve inherited can be a stressful experience. You might be expecting a large amount of cash for something important – like a child’s education – but if you can’t access it, it’s no use. You need money so that you can convert the inherited assets into spending and investments that are useful to you.

With home buying services, you can often get cash paid into your account in as little as 48 hours. Cash buyers will often want to survey the inherited property to establish an estimated value. Then, they’ll make an offer in cash that you can either accept or decline – the choice is yours.

If you accept the offer, then the cash buyer will take care of many of the responsibilities, including the transfer of the deed. It takes the stress out of the whole process.

Avoid Selling Stress

People like to sell properties on the private market because they believe that they will get a better price (something that’s not always guaranteed). But selling on the open market is a stressful experience. Not only are there a multitude of costs – including estate agent fees – but buyers can pull out at the last minute, putting the brakes on the entire transaction.

Selling to a cash buyer is a stress-free experience. You know how much money you’ll get in advance, and there’s no chance of pulling out. You get the money paid into your account without any fuss or complications; the final amount depending on the condition of your home and the price of similar properties in the immediate area.

Avoid Insurance Issues And Running Costs

Once you’ve inherited a property, you become the legal owner, and all of the responsibility of the house falls on you, including the running costs. Not good. You don’t want to pay ongoing insurance costs, and you certainly don’t want responsibility for all of the possessions in the house. From your perspective, it’s best to move on, transfer the physical assets into cash, and get rid of all the risk.

Avoid Carrying Out Repairs

Finally, when somebody you love has passed on, the last thing you want to do is assess the state of their home and carry out repairs. Many people do this out of a sense of duty or need, but with a cash buyer, you don’t have to: you can sell their house in any condition.

Homes in poor condition deter regular buyers, prompting them to ask for significant discounts off the asking price. Home buying companies, however, are professionals who see the potential in every property and can offer a fair price, no matter what the condition. If you don’t want to carry out repair work, then a cash buyer is the way to go.

Benefits of Using ‘We Buy Houses’ Companies

  We Buy Houses Companies Offer Investors Benefits

Companies that Buy Homes
We Buy Houses

We’re betting that you have spotted the signs all over your town that have been stapled to telephone poles or staked into the ground. They say things like “We Buy Ugly Homes” or “We Buy Any House.” These signs are there to tell you that there are companies willing to purchase your house despite how old or run-down it is. These people are generally investors who keep an eye out for homes that they can buy and flip to make a profit. Many real estate investors are now using house flipping as a lucrative way to up their profits, quickly and easily.

When you are trying to sell your home, you may be interested in hearing what these companies have to say. Unfortunately, house flipping investors may not be the right solution for your particular situation. Before calling and inquiring after one, it is important to learn more about what they do.

Remember, the “we buy any home” company has one major goal in mind- buying homes for as cheaply as possible. Many target desperate homeowners who have been attempting to sell their house for months. They may offer 50% to 70% of how much the actual value of your home is depending on your eagerness to sell. House flipping means that the investor is out to purchase a home for much less than what it is valued at, repair it, and then sell it for a big profit. It is known as a “flip” because it is usually done quickly.

Before you sign away your home to one of these companies, read the pros and cons first.

What are the pros of selling your home to a local house buying company?

1. It’s a lot easier to sell your home

This is especially true when your home needs a lot of work done to it before you can actually make a profit off of it. By choosing a house flipping company you are avoiding the headache of trying to get a good price on a home that needs repairs. It also quickly frees you from owning the home, especially if you are desperate to sell.

2. There is only one decision to make

You only have to decide which house flipping company you will be selling to. You won’t have to worry about how you are going to make repairs, what real estate company to use, and who you want the house to be sold to. The house flipping company will give you an offer and that will be that if you decide to accept it. Since most of the companies pay cash, the closing process is also much easier.

3. You do not have to worry about getting the best real estate agent

With the influx of real estate agents, especially all over social media, finding the best one can be tricky. You don’t want to just hire someone because they have an ad on your local park bench! When you go with a house flipping company, you won’t need to worry about finding a reliable agent.

4. You won’t have to do the “sale by owner” offer

It’s not easy trying to sell your home without a real estate agent. Sure, you may save on the commission, but is the extra hassle worth it? In order to sell a home on your own, you will need to take your own excellent pictures, market your home online, be available for showings at times that may not be convenient to you, and deal with the actual financing part yourself. Selling your home to a flipping company avoids this whole ordeal.

5. Your home is likely to sell no matter what

If your home has deteriorated over the years, selling it yourself or through a real estate agent is going to be hard. You may even be living in a house that is nearly uninhabitable. A company that buys houses like Seller’s Advantage will not care about how poorly kept up your home is. They will likely offer you money for the house, even if it isn’t very much. They may even be after the lot the home is sitting on and not the house itself. If the house itself is in terrible shape, it is often more lucrative for the buyer to tear it down and rebuild.

8 Ways That an Agent-Brokered Home Sale Can Suddenly Go Downhill

In an ideal world, every real estate agent would be like a Fairy Godmother of home selling. Their industry expertise would take care of every hurdle, from repairs and staging to finding the perfect new family that is eager to buy your house. But in the real world, things aren’t always so easy or nice.

As someone motivated to sell a particular house, you are expected to trust your real estate agent completely. They are supposed to guide you through the complicated and obstacle-ridden path to a successful sale. They are supposed to fully grasp the logistical, legal, and marketing requirements to complete the sale and. And part of the reason you pay them a portion of the profit is because a real estate agent, supposedly, can save you from the headaches and setbacks of trying to handle the process on your own.

But it doesn’t always go as smoothly as we’d hope. Sometimes, your luck just turns and your agent did their level best to help. And sometimes the agent themselves fails to come through. But they still want their commission whether the sale was easier or harder with their help.

Today, we’re here to talk about some of the most common ways that a home sale can go downhill, even when a professional real estate agent is supposedly arranging everything for success.

Buyers Can’t Back Their Bid

By far the most common reason that a home sale falls through is inexperienced buyers combined with less-than-thorough real estate agents. Remember there are two agents involved in every sale, and technically both of them should ensure that a buyer is financially capable of completing a home purchase before entering the negotiation stage. But it often gets missed.

First-time buyers usually don’t fully understand how the finances work when buying a house, and will make a bid based on what they think their personal finances can afford. However, if they have not had this amount pre-qualified recently buy an available bank, then their bid means nothing. Some sellers see months wasted to negotiating with a buyer who, in the end, can’t get a bank to actually provide the mortgage to them. So the sale falls through and your back marketing for potential buyers again.

Competitive Bidding vs Bank Appraisal

But even if a bank has pre-qualified a home purchase within the buyer’s bid range, the bank might not actually approve the purchase of your house. Why? Because they only back mortgages for homes they feel are worth the buying amount. Before approving the mortgage, the bank will likely send an appraiser, someone who estimates what your house is really worth, not just what your buyer is willing to pay.

If the appraiser decides that the house is not worth the amount of the mortgage, the bank won’t feel that ‘owning’ the house is reasonable collateral for the amount of money they are putting up. And, in effect, the buyer will be denied a mortgage and your sale will fall through.

Buyers Back Out After the Inspection

A home bid with an inspection contingency is a lot like a job offer with a reference-check contingency. It’s like saying “I like everything about this house and will take up your time with negotiations and final-sale preparations. But if my inspector sees a spider, I’m out.”

In other words, inspection contingencies have a huge potential to waste your time. If you are going to sell through the usual channels, your real estate agent needs to make sure that buyers get their inspection before negotiations even start. If they fail to enact this step and inspection becomes a sale contingency in the contract, this is a great way to waste months and see a sale fall through when a known maintenance issue is ‘discovered’.

Simple Cold Feet

And some buyers just plain back out of a deal. This is often known as cold feet, or buyer’s remorse. Most home sale deals allow buyers to back out within the first week or two after the final papers are signed. This is to ensure that if there really are shady issues that are revealed or their finances suddenly take a turn for the worse, that buyers are not trapped in a purchase that will financially ruin them.

However, most of the time when buyers back out, the reason is just emotional. It turns out, after a month or more of negotiations and financial preparation, that they’re not really ready to commit. A good real estate agent can save you from this wishy-washy kind of sale failure, but it takes a real expert to predict when seemingly good buyers are going to bail at the last minute.

Home Sale Contingency

Another really serious problem with home sales, even ones that seem to be a sure thing, is the buyer’s home sale contingency. It’s not uncommon for people to plan on buying a house with the profits of the house they’re about to sell. This is a complicated financial and logistical maneuver and, in theory, it’s not a bad idea.

But no good real estate agent is going to put a home sale contingency into your selling contract. What this means is that no matter how motivated and ready the buyers are, they won’t be buying until their seller’s agent gets their home sold. So your entire process is now held up on someone else’s dubiously successful home sale. And you can’t even find new faster buyer because now you’re contractually bound to wait.

Negotiations Keep Falling Through

With a truly bad real estate agent (and there are a few out there) you may not even reach the contract phase for things to fall through at the last minute. Some agents can’t even get through the negotiation phase where everyone agrees on a price, terms, and a few reasonable contingencies.

You know you’re in a bad spot if your selling process keeps getting to the negotiation phase and falling through because you may never actually see closing documentation at all.

Property Title Complications

And even if you get to the closing paperwork with banks on board and everyone ready to sign, things can still go wrong! If your agent hasn’t done their job, there could be unknown liens or other restrictions on the property itself. Your agent should have either checked the title status for you or walked you through the process of doing it yourself

Title complications are especially common when you inherit a house that you didn’t buy and haven’t been managing financially. So it’s easy to officially own a house that also has liens on it that you had no idea about. Interestingly, buyers can also be stopped by this phase in the process. If they have outstanding debts or court orders that put liens on their finances and prevent the completion of the sale. Which their agent should have known about.

Real Estate Agent Wants a Bigger Cut

Finally, even if a sale goes all the way through, it might not be as profitable as you’ve been hoping for. Traditionally, your seller’s agent will want about 5% of the final selling price as their commission for helping. And if they really have facilitated a fast, profitable sale, most sellers don’t mind paying the cut. But 5% isn’t mandated by any agent or broker regulations, it’s just standard.

There is always a possibility that your agent will ask for even more than the traditional cut, even if they weren’t helpful and allowed obstacles to cause problems at every turn. You might even find that that bigger cut has been in their contract the entire time, unmentioned in small print, to catch you at exactly this moment.

Selling a house through the usual agent-run channels is not always the best choice for a homeowner eager to get a house off their hands. Especially if you don’t want to invest in repairing, repainting, and staging the house the way real estate agents usually recommend.

If you really just want to get an unwanted house sold with no delays, hassles, or unexpected fall-throughs then we have the answer for you. Here at Seller’s Advantage, we will be happy to buy that troublesome house quickly and for cash. No drama over mortgage approvals, no buyers with cold feet. And you won’t have to pay utilities or property tax for every month it sits on the market.

For a no-obligation inspection and consultation on the house you want to sell, contact us today! We’re ready to check out your house and give you a cash offer. No setbacks. No problem.

Is Selling a Home an Overwhelming Process for Homeowners?

When thinking about selling their home, homeowners may have this question in the back of their minds. With all the other responsibilities in life that need their attention, this is a valid question to ask before selling a home. In an effort to help, let’s discuss the process of selling a home and examine whether or not it’ll be an overwhelming experience for homeowners.

 

Variables and Perspectives Involved with Selling a Home

 

Essentially, the question is asking whether or not selling a home with traditional methods is too much of a hassle for homeowners. Ultimately, the answer depends on each homeowner’s real estate and mortgage experience, workload, location, situation, and general perspective of the process.

Whatever the case may be, selling a home is always more involved than selling a car or other high-priced items. Simply put, the large amounts of money being borrowed create more red tape with laws and regulations concerning the mortgage and real estate industries. This might make the process of selling a home more complicated and involved than a seller wants to deal with.

Here are some other factors that can make selling a home a hassle for homeowners:

 

    • they’ve never sold or bought a home before
    • their home selling/buying experience was a long time ago
    • their home selling/buying experience was in another state
    • their work is demanding and time-consuming
    • the home is in a distant location
    • the home needs extensive repairs and/or cleaning
    • the home is in a buyer’s market
    • they don’t have the upfront money to repair and market
    • home is being used as a rental
    • commission and fees can cost around 10% of the sale price

 

These are some of the variables that could make selling a home an overwhelming process for homeowners. The specific situation and perspective of each homeowner will ultimately determine whether selling a home with traditional methods is worth it for them or not.

 

How Long Does It Take to Sell a Home?

 

The National Association of Realtors says the average is three weeks, according to a CNN Money article, which explains:

 

“Low housing supply has pushed up home prices and created multiple offer situations and bidding wars throughout the country.”

 

While three weeks isn’t very long, this only accounts for the time from when a house is actually listed until it’s closed. Homeowners must also consider how long it takes to get a home ready to be listed. The amount of time this takes depends on:

 

    • repairs and upgrades
    • clean-up for curb appeal
    • home inspections
    • hiring a real-estate agent
    • marketing preparations
    • moving or putting items in storage
    • preparing to stage a home for walkthroughs and open houses
    • dealing with any tenants

 

Having an inspection done pre-listing isn’t required, yet is a good idea, especially, if the house is run-down or obviously in need of repairs. Having a pre-listing inspection done will cost a few hundred dollars, yet will prevent any bad surprises from surfacing when buyers have an inspection done before closing.

The time it takes to prepare a home for listing and sell it will depend on these factors, yet is also subject to problems that can occur during escrow and closing processes.

An article on The Balance gives us some examples:

 

No earnest money deposit.

…A bad home inspection.

…A low appraisal.

…Underwriting rejects the file.

 

The overall time it takes to sell a home with traditional methods can be from weeks to years; a safe estimate for most situations would be a few months. If homeowners don’t have the time nor the inclination to spend this time and effort selling their home, they should consider other options, such as selling as is for cash.

 

How Much Effort Does it Take to Sell a Home?

 

Time and effort are similar, yet the effort aspect is what will make the process of selling a home with traditional methods overwhelming. While the variables and perspectives of homeowners will differ, each must consider whether they’re willing and/or able to put the effort needed into selling their home.

A second article on The Balance called: “Important Steps in the Home Selling Process”, written on July 22, 2018 by Elizabeth Weintraub, lists the number of steps involved:

 

      1. Choosing a Listing Agent
      2. Find Out How Much Your Home Is Worth
      3. Get Your Home Ready for Sale
      4. Market Your Home
      5. Show Your Home
      6. Receive Purchase Offers and Negotiate
      7. Open Escrow and Order Title
      8. Schedule an Appraiser Appointment
      9. Cooperate With the Home Inspection
      10. Obtain Seller-Required Inspections [if contract requires]
      11. Delivery Seller Disclosures [lead-based paint, etc.]
      12. Negotiate Requests for Repair
      13. Ask the Buyer to Release Contingencies
      14. Sing the Title and Escrow Documents
      15. Close Escrow

 

Basically, there’s a lot of steps involved in the traditional home selling process, which may prove to be an overwhelming experience for homeowners not prepared or able to spend the time and effort needed to navigate and manage the complexities.

While real estate agents and broker companies will handle much of the details, homeowners will still be responsible for hiring contractors and inspectors, making decisions, communicating with agents, preparing the home for staging, etc. Homeowners could have a property management company handle these details, yet this would cost extra money they might not have or want to spend.

 

Conclusion

 

While it depends on the variables and perspectives of each situation and homeowner, selling a home with traditional methods, at the very least, requires a considerable amount of time and effort. This may include large amounts of upfront money for repairs, inspections, marketing, and upgrades as well.

If homeowners aren’t prepared or able to spend the time and effort necessary to sell their homes, the process could very well be an overwhelming experience they’d rather avoid. This is especially true if they have a demanding job and other pressing responsibilities in their lives. If this is the case, homeowners may want to look into alternative methods, such as selling their home as is for cash using a quality company with a good track record.

If interested in learning more about selling a home as is for cash please contact Seller’s Advantage online or call at 1-800-208-3243 to get a no-cost, no-obligation quote. Seller’s Advantage purchases homes in AS-IS condition and can give homeowners a cash offer in as little as 24 hours.

Problems that Can Kill Your Home Sale

Selling a home can be challenging. Though you might think that your home could sell right away, it doesn’t always work that way. Some sit on the market for months or even years before the right person comes along.

Unfortunately, a contract doesn’t necessarily mean that your home is going to sell. If there is a problem with the inspection, you are going to have to figure out what you are going to do. You might be willing to fix some problems but not all of them. You may not want to deal with any of it.

Here are some problems that can quickly stop your home from selling.

Water problems.

Most buyers will walk away from a home that has water problems. They don’t want to deal with flooding in the basement or a roof that is leaking.

Any water problem can lead to even more problems. You may have mold or rot in your home. Water can also destroy the materials that make up your home, leading to all sorts of problems.

Because water can cause damage in all areas of a home, most buyers will pull out on a deal really fast when they hear that you have water problems.

Structural issues.

Most buyers won’t touch a house where there are structural issues. Structural issues include problems with the foundation, support system, walls, and other things that hold a home up.

Not only will your buyers worry that they won’t be safe in their home, but they may also worry about it lasting for a long time. They don’t want to struggle to pay a mortgage for the next thirty years when they aren’t sure if it is going to last that long!

The cost to fix structural issues really depends on what is going on with your home. If your foundation and support system aren’t holding your home up right, the cost to fix it could be more than you ever imagined.

Bad or failed septic system.

Septic systems are a necessary part of a home. You can’t sell a home with a septic system that fails inspection unless you sell it to someone who has cash. Nobody will be able to get a loan for a home that has a bad septic system.

Septic systems are very expensive to fix, often costing around twenty thousand dollars (or more) for a brand new one. However, if you don’t take care of the problem, you are going to struggle to sell your home.

Poor water source.

Buyers expect (as they should) to be able to get safe drinking water at all times. They also expect to get as much as they need.

If your home has a well, it is important that it is working properly. It is also necessary to make sure that the water that comes out of your well is safe to drink.

Though some water issues aren’t too expensive to fix, if you have to replace your well, it can be very costly. If you don’t, you will struggle to find a buyer. Most loan officers won’t finance a home without a working well.

Infestation of pests.

Though most homes have problems with ants and other rodents occasionally, people aren’t going to want to buy a home that has an infestation of them.

Termites can do a lot of damage to a home so most people will walk away quickly if they notice termite wings. They can do major damage to the structure of your home.

Rodents, including mice, rats, and bats will also push buyers away. Most people don’t want to buy a home that has critters living in them due to different health concerns.

Bad smells.

If your house has a bad odor, you might push some buyers away. People don’t want to smell your dinner for last night so you should be careful what you cook prior to any visitations and open houses.

People also don’t like the smell of pets. If you have a smelly dog or cat, you might want to find somewhere else to keep him or her while you are trying to sell your home.

If you know that you are having an open house, you might want to bake some cookies or pies to give your home a nice smell. Some people try to use candles and air fresheners. However, this can also deter people who can’t handle smells. Others may wonder what you are trying to hide. They might pass just because they are afraid that you might be trying to hide mold or another stinky problem.

Sex offender who lives nearby.

More and more parents look at the sex offender list before they decide where they want to live. They don’t want their children anywhere near someone who is a convicted felon, especially one who was charged as a sexual offender.

Unfortnealy, there is nothing that you can do about this, and you just might lose out on some great buyers due to the neighborhood that you live in.

Two of the most common reasons that buyers walk away are water problems and structural issues. Water problems can cause mold, rot, and other problems. Structural issues often make people feel like they wouldn’t be safe in their new home. They may worry that your home wouldn’t stand up in a bad storm!

If your septic system fails inspection, you don’t have much choice in what you do. Nobody will be able to get a mortgage for a home without a septic system. You will either need to fix it or accept cash offers only.

Smells can also deter people. Make sure that you are careful with what you cook before any showings or open houses. If you have pets, you may want to keep them somewhere else to get rid of some of their smells. You also want to be careful if you use candles and air fresheners to freshen up your home. The smell may bother some people, and they can’t enjoy your home because it gives them a headache. If you have too many candles going, many people will worry that you are trying to hide something so they will walk away.

Contact us to sell your house fast! We pay cash for homes in any condition in as fast as seven days.

Landlord Drama: Why You Shouldn’t Rent your Home and Just Sell It

When it comes time to move into a new home, you may be trying to decide whether or not you want to sell it. You may really be considering renting it out so you can make a little extra income. You may have also inherited a house and, instead of selling it, you are thinking about renting it out.

However, being a landlord is not for everyone. It is not an easy job. It takes a lot of work, as well as time and patience to be a good landlord. In fact, there are times when it is much better to sell your home and walk away.

Here are some reasons why you shouldn’t rent your home (or an inherited one) and just sell it instead.

Many people love the freedom of walking away after their home is sold.

Owning a home is a significant debt. Owning two homes can feel crushing. Because of this, many people gladly sell their home to get away from all of the stress and debt that comes with home ownership.

They also love the feeling of money in their pocket (instead of another home to have to take care of).

Inheriting a home can be a lot of work, especially if it wasn’t something that you were expecting. It can actually feel like a burden instead of a blessing.

Because of this, many people prefer to sell the home and take their cash and walk away. If they use the money wisely, they can pay off some of their debt (maybe even their own home) and have some money in the bank for emergencies.

A large amount of money can go a long way to improving someone’s life.

Most people can’t afford to buy another home until their first one is sold.

The truth is that you are going to need a down payment (and a significant one) in order to buy your next home. Most people don’t have the option of owning two homes because they need the money. They have no choice but to sell their first home in order to have money to buy their next one!

Many people want out now because they are losing money.

The real estate market is constantly fluctuating. Though many people thought that buying a home is a good investment, there are times when holding onto it could be costing you money. If the market is high, you might want to get out before it drops any lower and you lose money on your investment.

You can’t make any money renting your home.

If you are in over your head in your mortgage, you might not be able to get enough with rent to actually cover the cost of your monthly mortgage payment. Your mortgage may be a lot more than typical rent in your area.

Add in other fees, like insurance, taxes, repairs, and other expenses, and you might end up paying your tenants to live in your home, without any of the benefits of owning a home. You have to make sure that it is worth the hassle of becoming a landlord.

Being a landlord can be a lot of work.

Not only are you going to have to make sure that your tenant is paying the bills and the rent, but you are also going to be in charge of maintaining your home. If something breaks, it is up to you to fix it (or find someone who can do the repairs). This can be quite stressful, and the job is not for everyone.

You might be moving away (or not close to the home that you inherited).

It can be hard to rent a home when you live elsewhere. With people who relocate, especially in the military, it can be hard to be a landlord when you are not there. If your inherited home is several hours away, the distance can make it hard to be a landlord.

If something breaks in the middle of the night (or actually any time), you are not going to be able just to drive over and take a look. Instead, you are going to have to rely on your tenants and the people you hire to fix these things.

Renting out your home is not for everyone. In fact, many people can’t afford to even think about this option. They need the money from the sale of their first home so that they can buy their new home. Even if they did try to rent it out, they might not be able to make enough money to even cover the monthly mortgage payment.

If you inherit a home, you might not be prepared to take care of two homes at once. It can feel like such a burden instead of the gift that it was. A cash offer might seem more appealing at this time. It can go a long way to improve your life.

One of the best reasons to sell your home is so that you don’t have to be a landlord. It can be stressful to have to maintain a home that you don’t live in. Things are going to break and tenants are going to mess your home up. In fact, the truth is that many people can’t handle it.

It is even harder when you don’t live nearby. If you are several states away, you can’t just drop everything to see what is going on when something breaks. You are going to have to trust your tenant and your repair people since you can’t see it for yourself.

Most people are much better off selling their home instead of trying to rent it out! Don’t have the time to clean the house up and put it on the market, only to wait weeks or months for it to sell? Don’t hesitate to contact us today. We can get the process started and our company will buy your home out of your hands in less time than you ever imagined. The possibilities could be endless with a cash offer!

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Please call us at 1-800-208-3243 to speak with us immediately or finish your form to receive an offer within 24 hours!

Seller’s Advantage is a BBB Accredited Business with an A+ Rating and have been in business for over 12 years.  We've purchased more than 10,000 properties from homeowners just like you!

OK, let's finish!

Don't leave!

Please call us at 1-800-208-3243 to speak with us immediately or finish your form to receive an offer within 24 hours!

Seller’s Advantage is a BBB Accredited Business with an A+ Rating and has been in business for over 12 years.  We've purchased more than 10,000 properties from homeowners just like you!

OK, let's finish!